401K AND RETIREMENT PLAN LIMITS FOR 2015

On October 23, 2014, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment.

Defined Contribution Plan LimitsFor 401(k), 403(b) and most 457 plans, the COLA increases for dollar limits on benefits and contributions are as follows: